Higher One FAQ
Forsyth Technical Community College has partnered with Higher One, a financial services company focused on helping students like you get the most out of your money. If you are new to this service, it’s only natural that you may have some questions. So, we’ve put together this guide with answers to some of the most frequently asked questions about Higher One, the process for receiving money from Forsyth Tech and your new My Forsyth Tech Card Debit MasterCard®.
Who is Higher One?
Higher One is a company started in 2000 by three college students who believed in a better way to help students receive and manage money. Since the beginning, we’ve strived to offer more choices and better value to those in school and beyond. In addition to faster ways to receive refunds from Forsyth Tech, we also offer innovative checking account choices and a wealth of great features designed to make your life easier.
Why am I getting a card?
Because you will use it to select how you want to receive your refund money. Once you have your card, simply view your choices and make your selection at MyForsythTechCard.com to let Forsyth Tech know how you’d like to receive the money they may have for you.
How will I get a My Forsyth Tech Card?
You will receive your card in the mail at your primary address on file with Forsyth Tech. Just look for the bright green envelope and please make sure your address is up-to-date.
What are my options for receiving money?
- Same business day deposit to a Higher One checking account. Money the same business day funds are released by Forsyth Tech.
- Deposit to another account. Money in two to three business days.
- Paper check. Money in five to seven business days.
What if I don’t make a selection?
Although you might not currently expect money from Forsyth Tech, you may receive money back in the future. Making a selection now ensures you’ll always have this money without a delay.
Are Higher One checking accounts full-service?
Yes. Higher One created accounts designed to be the only “One” you need. We offer a seamless way to receive refunds, make purchases/access ATMs with a Debit MasterCard; and gain access to a wealth of innovative features like mobile apps, easy online banking and easy ways to make deposits.
Account choices include:
Easy ways to deposit, cash back rewards and no monthly fee for students or $100 or more in monthly direct deposit.
- OneAccount Edge
Easy ways to deposit, cash back rewards and only one monthly service fee! (No other fees charged by Higher One.)
- OneAccount Premier
Easy ways to deposit, premium rewards and access to the expansive Allpoint® Network of ATMs!
* OneAccount Edge and OneAccount Premier may not be available to all customers or may only be available to customers who have already opened a OneAccount. Higher One checking accounts have a monthly service fee. See applicable fee schedule for further details.
Why is the MasterCard logo on my card?
If you choose to open a Higher One checking account, the My Forsyth Tech Card can be used to make purchases wherever Debit MasterCard is accepted. It is important to note that the My Forsyth Tech Card is NOT A CREDIT CARD, but rather a DEBIT CARD backed by the purchasing power of the MasterCard network.
What kinds of money might I receive from Forsyth Tech?
The most common type of money Higher One disburses to students are funds left over from Financial Aid awards, loans or grants after tuition has been paid. Students receiving these funds have usually requested this additional support to help with books and living expenses. Higher One uses the term “refund” but your college or university may have another name for these funds such as a disbursement, residual or a stipend.
What are the key features and benefits of Higher One’s checking accounts?
Higher One checking accounts are a value-oriented alternative to big bank checking accounts. Our accounts also come loaded with:
- Smart account features that help you not only keep up, but get ahead—thanks to our mobile apps, mobile deposit technologies and text alerts you can use on-the-go, from anywhere.
- OneRewards. From books to groceries, get cash back for online purchases at hundreds of your favorite retailers.
- Great service and no need for a branch! We come to you, with a variety of ways to get it done: mobile apps, online account access, Twitter® and Mobile Alerts.
- The Inside Edge with information and advice to help you plan your future and get a leg up today. The Inside Edge offers guidance on everything from finances and career opportunities, to travel deals; right at your fingertips.
And so much more !
How is my money delivered?
Delivery of refund money is a multi-step process. First, your college or university draws funds from the respective loan and/or grant provider and applies it to your student account. Next, they collect and verify that all the information is correct. Once verified, they send the information to Higher One. This often happens in groups or batches based on their bandwidth, capabilities, timelines etc. Once we receive your specific refund information, it is processed as fast as possible and disbursed according to your selection.
How do I set up direct deposit of my paycheck to a Higher One checking account?
To set up direct deposit, just print out the form available on the statement page of your account and hand it to your employer. (Yes, it’s that easy!)
Can I change my preference for receiving money from Forsyth Tech?
Yes. Just log in to your account and select “Refund Preferences” from the “Refund” menu option. Once on the page, simply make your new selection and click the “Update Preference” button to complete the process. Be aware that your new selection will only impact future money you receive from Forsyth Tech.
How will I know when my money has been sent?
We’ll send you an email to the address you entered during setup. You can also view the status online at MyForsythTechCard.com or sign up to receive text messages sent directly to your cell phone with convenient Mobile Alerts.
What if I have additional questions?
Visit MyForsythTechCard.com or get easy answers to your questions with EasyHelpSM–our self-service FAQ database available online.
View the original PDF document.
Banking services provided by WEX Bank, Member FDIC. The My Forsyth Tech Card is issued by WEX Bank pursuant to license from MasterCard International Incorporated.
The card is administered by Higher One, Inc.
©2013 Higher One, Inc. Higher One and the Higher One logo are registered trademarks of Higher One, Inc. MasterCard is a registered trademark of MasterCard International Incorporated.
All other names and logos are owned by their respective owners.